On Friday, Shares of New Gold Inc. (USA) (NYSEMKT:NGD), lost -3.83% to $2.13.
New Gold Inc., declares that the company has accomplished the formerly declared sale of its 30% interest in the El Morro project to Goldcorp Inc. (“Goldcorp”). In exchange for the company’s 30% interest, New Gold has realized $60 million in net cash ($90 million less taxes and transaction costs) and the company’s $94 million carried funding loan payable has been cancelled. In addition, New Gold will receive a 4% gold stream on gold production from the El Morro property. The transaction provides New Gold with raised financial flexibility, strengthens the balance sheet and enables the company to maintain exposure to El Morro’s noteworthy gold reserves and ongoing exploration potential.
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits.
Shares of Interpublic Group of Companies Inc (NYSE:IPG), inclined 0.48% to $23.15, during its last trading session.
Weber Shandwick, one of the world’s leading global communications and engagement firms, declared the opening of its office in Brasilia recently, extending its public affairs expertise to the Brazilian capital and offering planned counsel in policy and government relations to clients across the firm’s growing network in the country and Latin America. Weber Shandwick’s Brasilia office in the country’s political epicenter will assist companies engage with key decision makers and government and regulatory bodies on important issues.
Andreia Salles has been designated managing director, Weber Shandwick Brasilia, to lead the new office. Salles has more than 15 years of experience developing customized public relations and content creation strategies for brands across a wide range of industries counting retail, food, technology, education fashion and finance. In 1999, Salles founded Emporio Communication in Brasilia. Before her career in public relations, Salles worked as a newspaper reporter. She earned a degree in journalism from Pontifical Catholic University of Rio de Janeiro and a graduate degree in digital journalism from the International Institute of Social Sciences (IICS) of the University of Navarra.
“Expanding our network to Brasilia is a natural next step for Weber Shandwick as clients increasingly are asking for counsel on how to navigate a very complex public policy landscape in Brazil and understand how changes in regulations will impact their organizations,” said Ze Schiavoni, CEO, S2 Publicom Weber Shandwick. “With Andreia leading the charge, our team of experts in Brasilia will serve as planned counsel for clients as they maneuver a new and complicated regulatory environment.”
The Interpublic Group of Companies, Inc. provides advertising and marketing services. The company operates in two segments, Integrated Agency Networks and Constituency Administration Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
Finally, Shares of Trina Solar Limited (ADR) (NYSE:TSL), ended its last trade with 0.83% gain, and closed at $9.70.
Trina Solar Limited, declared its unaudited financial results for the third quarter of 2015.
Third Quarter 2015 Financial and Operating Highlights
- Total module shipments from the Company’s manufacturing facilities were 1,703.2 MW, compriseing of 1,353.2 MW of external shipments and 350.0 MW of shipments to the Company’s own downstream PV power projects. Total module shipments raised 38.3% sequentially and 60.1% year-over-year.
- Total PV power projects connected to the grid were 251.9 MW in the third quarter.
- Net revenues were $792.6 million, an improvement of 9.6% from the second quarter of 2015 and 28.5% from the third quarter of 2014.
- Gross margin was 17.4%, contrast with 20.0% in the second quarter of 2015 and 16.7% in the third quarter of 2014.
- Operating income was $5.8 million, contrast with operating income of $60.7 million from the second quarter of 2015 and $35.6 million from the third quarter of 2014.
- Non-GAAP operating income, which excluded the impact of the Solyndra settlement provision, was $50.8 million.
- Net loss attributable to Trina Solar’s ordinary shareholders was $20.0 million, contrast with net income attributable to its ordinary shareholders of $40.9 million in the second quarter of 2015, and net income attributable to its ordinary shareholders of $11.5 million in the third quarter of 2014.
- Loss per fully diluted American Depositary Share (“ADS”: each ADS represents 50 of the Company’s ordinary shares) was $0.24, contrast with earnings per fully diluted ADS of $0.42 in the second quarter of 2015 and earnings per fully diluted ADS of $0.14 in the third quarter of 2014.
- Non-GAAP net income attributable to Trina Solar’s ordinary shareholders, not taking into account the impact of the Solyndra settlement, was $18.3 million, or $0.21 per diluted ADS. See “About Non-GAAP Finance Measures” for details of the reconciliation of GAAP to Non-GAAP measure.
- The Company raised its guidance for 2015 total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. The revised guidance represents an improvement of 50.3% to 53.0% from 2014.
Trina Solar Limited operates as an integrated solar-power products manufacturer and solar system developer in the People’s Republic of China, Europe, the United States, and other Asia Pacific regions.